Guangdong to Tap Maritime Economic Potential

South China's Guangdong Province is determined to build itself into a maritime money-maker in ten years.In an address to a provincial meeting on maritime affairs, Deputy Governor Ou Guangyuan said he wants Guangdong's maritime sector to contribute more than ten percent to the province's gross domestic product (GDP) in ten years.

The added value created by the maritime sector presently makes up 6.6 percent of Guangdong's GDP.

Guangdong is the biggest beneficiary of China's reform and open- up drive. It has an offshore area of 450,000 sq. km, more than double the province's land area.

The deputy governor explained the construction of four major economic zones along the coast would push Guangdong to explore marine resources. The zones are the area around the estuary of the Pearl River, the eastern and western Guangdong maritime development zones, and zones based on the province's numerous islands.

These zones will specialize in maritime transport, marine fishery, petrochemical industry and marine processing. The provincial government will set aside 10 million yuan annually in funding for comprehensive maritime development purposes, over the next five years.

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